Bohs Accounts

[hoops1]

Toay's IT http://www.irishtimes.com/newspaper/...303700724.html

Football club lost €911,229 in 2010
In this section »
COLM KEENA, Public Affairs Correspondent

BOHEMIANS FOOTBALL Club Ltd, owners of the Phibsborough football team and Dalymount Park in Dublin, lost €911,229 in the year to the end of November 2010, according to accounts just filed.

The accounts show that during the year the club settled a court action with Albion Properties Ltd, for €1.1 million.

The club entered into an option-to-buy agreement with Albion in December 2009 in relation to the Dalymount grounds.

The club was paid €150,000 as part of this deal in 2009 and another €800,000 in 2010. The option lapses on March 31st, 2012.

Albion Properties is owned by Pascal and Winifred Conroy and owns the Phibsborough Shopping Centre, which adjoins Dalymount.

The accounts state that the club also entered into a sale agreement with Liam Carroll’s Danninger. If Danninger is not able to fulfil its part of the contract, according to the accounts, the club could have “possible legal recourse to request monies outstanding” as part of the contract.

Danninger is in receivership. The accounts say the company is engaged in cost-cutting to help deal with the current situation. Players’ wages were cut by €521,721.

Income in the 2010 year was €2.1 million, down from €2.5 million the previous year. Bar receipts, which are additional, were €70,086, up from €64,112 the previous year.

The accounts say the company’s status as a going concern is dependent on continuing financial support from its bank and developments in the property area.

It employed an average of 23 players during the year, up from 21, though the cost of employing players went to €1.18 million, from €1.7 million the previous year. The accounts state that there are ongoing negotiations with players in relation to contract terms.

The cost of player and staff kits was €220 in the 2010 year, down from €21,029 the previous year. Legal and professional fees were €69,533, down from €820,448 the previous year.

[Mr Maroon]

Where can we see the actual accounts?

[pineapple stu]

Where can we see the actual accounts?
You can download them from www.cro.ie for E2.50 (search for "An Cumann Peil")

[TiocfaidhArmani]

Bohs accountant unveiled.....

http://www.lardlad.com/assets/episodes/season4/9f10-big.jpg

http://images3.wikia.nocookie.net/__cb20090925182705/simpsons/images/thumb/5/51/Springfield_Monorail.gif/250px-Springfield_Monorail.gif

[Charlie Darwin]

€1.2 million on players? Not too bad when you factor in Jayo was probably on about 10k a week.

[sundance kid]

I think the rise in groundstaff from 3 the previous year, to 11 now is hilarious.

[hoops1]

pfffffffffh accounts. Who needs to worry about them when you have a banter bus and a fancy dress match to attend.

[Mr A]

Some mad figures there, but without seeing the whole thing hard to make much of a judgement, this only really raises more questions.

900k loss- 300k of which is accounted for by the difference between what they paid Albion and what Albion paid them. On first glance the expenditure on players is 1 million less than income, but strip out the Albion bit and it's roughly 1.4 million in, 1.1 million out. Where coaching staff separate or included in the 1.1 million I wonder. I think they were not previously.

Strange that Albion would pay so much for an option that lapses relatively soon. One wonders if that option is for the whole ground or are Bohs back in control of the whole shebang if the option is let lapse? LOL at the idea of getting anything out of Danninger, still worth a shot I guess.

[passerrby]

you know what ye need at bohs?... a good finance manager and i just happen to know a chap over in galway who is twiddling his thumbs at the moment and has a great knowledge of league of Ireland

[BonnieShels]

Interesting aside, is the limited company called Bohemians Football Club or is that a typo?

[Mr A]

Portions has been posted online:

http://img59.imageshack.us/img59/7716/58830635.jpg

Tangible assets revalued from 6.8 to 9.5 million.

[fionnsci]

Interesting aside, is the limited company called Bohemians Football Club or is that a typo?

Sure 'tis only a typo.

[Dodge]

Interesting aside, is the limited company called Bohemians Football Club or is that a typo?

There's a fair chance that a limited company called Bohemian Football Club has folded in the past.

Pats have had dozens I'd imagine

[pineapple stu]

It's a typo. The company is called An Cumann Peile Boiteimeac, Teoranta. (The Bohemian Football Club Limited). There's no company at all with the word "Bohemians" in it.

[HulaHoop]

Portions has been posted online:

http://img59.imageshack.us/img59/7716/58830635.jpg

Tangible assets revalued from 6.8 to 9.5 million.


Not content with the hilarity provided in having 11 groundsmen on last years accounts, or that the entire first team kits, tracksuits etc. cost a combined total of €220 for a full year, Bohs outdid themselves yet again by stating Dalymount Park was the only bit of land in the whole country that went up in value last year, this coming in the middle of the biggest property crash we have ever seen. It didn't go up in value by 1 or 2 % though oh no, but by a whopping €2.7 million! Just when you thought you couldn't laugh any harder at Bohs!

[Mr A]

Could this be because Danninger have broken the terms of the contract though and therefore don't have their option on it any more?

[Mario]

Hard to understand lots of the figures, for example

income on merchandising was 53296
costs on merchandising was 54492

So they made a loss running the club shop?!

Hard to understand how you could loose money selling goods that usually have a generous mark-up on them?

Mario

[Dodge]

haven't seen accounts

But if they bought merchandise for 60k, with a view to selling it for 100k, they'd lose money if they only sold 50k worth of stuff...

If they saved 20k in kit costs, there's a fair chance some of that 20k is being accounted for as merchandise (maybe Umbro didn't split the invoice etc). 20k would put a dent in your merchandise 'profits'

[nigel-harps1954]

Hard to understand lots of the figures, for example

income on merchandising was 53296
costs on merchandising was 54492

So they made a loss running the club shop?!

Hard to understand how you could loose money selling goods that usually have a generous mark-up on them?

Mario

This one I can understand out of most of them. Clearly they just overstocked a bit too much.

[pineapple stu]

Can we keep this on topic rather than go off onto stuff about personal opinions on hooligan bans? These threads tend to go off on tangents easily enough without encouraging them.

[pineapple stu]

As per the above post, off-topic nonsense split (http://foot.ie/threads/156673-Whoda-thunk-it-Rovers-and-Bohs-fans-bickering!).

[SwanVsDalton]

Portions has been posted online:

http://img59.imageshack.us/img59/7716/58830635.jpg

Tangible assets revalued from 6.8 to 9.5 million.

I absolutely love the start of this page.

"The company has undertaken a number of plans to utilise the company's resources and generate income."

Then just two plans: cut costs and think of more plans.

[marinobohs]

I absolutely love the start of this page.

"The company has undertaken a number of plans to utilise the company's resources and generate income."

Then just two plans: cut costs and think of more plans.

Worst part is neither plan seems to be working out too well :confused:

[seand]

I can't pretend to understand most of the (gigantic) figures produced but the wages alone are incredible. 1.2m down from 1.7mill? Even taking the smaller amount and assuming that players are paid over 52 weeks that's a weekly wage bill of 23 grand... i.e. a 23 man squad AVERAGING a grand a week! In the League of Ireland. With average home attendances of under 2000. And with no football for 3 months.

(Taking the larger figure and playing players just during the playing season and you're looking at 40-45 grand a week or 2,000 a man. Scary stuff.)

[SkStu]

its absolute insanity and totally embarrassing.

The figures were for last season so it should be at least halved for this season which is something (albeit way too little, way too late).